Report Update Nov 1, 2024

Singapore - Walnuts - Market Analysis, Forecast, Size, Trends and Insights

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Singapore: Walnut Market 2024

Walnut Market Size in Singapore

The Singaporean walnut market dropped sharply to $X in 2021, declining by -68.2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption saw a slight descent. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Walnut Exports

Exports from Singapore

For the third consecutive year, Singapore recorded growth in overseas shipments of walnuts, which increased by 336% to X tons in 2021. In general, exports posted a significant increase. The most prominent rate of growth was recorded in 2014 when exports increased by 909%. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the near future.

In value terms, walnut exports soared to $X in 2021. Over the period under review, exports saw a significant expansion. The pace of growth appeared the most rapid in 2014 with an increase of 584%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

India (X tons) was the main destination for walnut exports from Singapore, with a 87% share of total exports. Moreover, walnut exports to India exceeded the volume sent to the second major destination, Nepal (X tons), more than tenfold. The third position in this ranking was held by Brunei Darussalam (X tons), with a 2.7% share.

From 2012 to 2021, the average annual growth rate of volume to India stood at +132.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nepal (0.0% per year) and Brunei Darussalam (+34.0% per year).

In value terms, India ($X) remains the key foreign market for walnut exports from Singapore, comprising 73% of total exports. The second position in the ranking was taken by Brunei Darussalam ($X), with an 8.9% share of total exports. It was followed by Nepal, with a 6.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to India totaled +111.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brunei Darussalam (+25.8% per year) and Nepal (0.0% per year).

Export Prices by Country

The average walnut export price stood at $X per ton in 2021, with a decrease of -44.9% against the previous year. Over the period under review, the export price faced a deep slump. The most prominent rate of growth was recorded in 2016 an increase of 56%. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Malaysia ($X per ton), while the average price for exports to India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+7.5%), while the prices for the other major destinations experienced a decline.

Walnut Imports

Imports into Singapore

In 2021, approx. X tons of walnuts were imported into Singapore; dropping by -21.2% compared with the previous year. In general, imports, however, continue to indicate a prominent increase. The pace of growth was the most pronounced in 2016 when imports increased by 444% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, walnut imports contracted notably to $X in 2021. Over the period under review, imports, however, posted a strong increase. The growth pace was the most rapid in 2019 with an increase of 354% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports remained at a lower figure.

Imports by Country

China (X tons), the United States (X tons) and Ukraine (X tons) were the main suppliers of walnut imports to Singapore, with a combined 97% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Ukraine (with a CAGR of +118.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest walnut suppliers to Singapore were the United States ($X), China ($X) and Ukraine ($X), with a combined 93% share of total imports.

Among the main suppliers, Ukraine, with a CAGR of +112.5%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average walnut import price stood at $X per ton in 2021, dropping by -23.2% against the previous year. In general, the import price saw a drastic downturn. The pace of growth appeared the most rapid in 2017 an increase of 36% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Ukraine ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (-0.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for walnuts in the world?

China constituted the country with the largest volume of walnut consumption, accounting for 54% of total volume. Moreover, walnut consumption in China exceeded the figures recorded by the second-largest consumer, the United States, fivefold. The third position in this ranking was occupied by Iran, with a 7.4% share.

What are the largest producers of walnuts in the world?

The country with the largest volume of walnut production was China, comprising approx. 55% of total volume. Moreover, walnut production in China exceeded the figures recorded by the second-largest producer, the United States, fourfold. Iran ranked third in terms of total production with a 7.3% share.

What are the leading suppliers of walnuts to Singapore?

In value terms, the United States constituted the largest supplier of walnut to Singapore, comprising 83% of total imports. The second position in the ranking was occupied by China, with a 12% share of total imports.

What are the leading importers of walnuts from Singapore?

In value terms, India remains the key foreign market for walnut exports from Singapore, comprising 65% of total exports. The second position in the ranking was occupied by Bangladesh, with a 17% share of total exports. It was followed by Malaysia, with a 10% share.

What is the average export price for walnuts in Singapore?

The average walnut export price stood at $3,082 per ton in 2020, remaining relatively unchanged against the previous year.

What is the average import price for walnuts in Singapore?

In 2020, the average walnut import price amounted to $4,992 per ton, leveling off at the previous year.

This report provides an in-depth analysis of the walnut market in Singapore. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 222 - Walnuts

Country coverage:

Singapore

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Singapore
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. COUNTRIES WITH TOP YIELDS
4. TOP EXPORTING COUNTRIES
5. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Yield And Growth
16. Exports And Growth
17. Export Prices And Growth
18. Market Size And Growth
19. Per Capita Consumption
20. Imports And Growth
21. Import Prices
22. Production, In Physical Terms, 2012–2023
23. Production, In Value Terms, 2012–2023
24. Area Harvested, 2012–2023
25. Yield, 2012–2023
26. Imports, In Physical Terms, 2012–2023
27. Imports, In Value Terms, 2012–2023
28. Imports, In Physical Terms, By Country, 2023
29. Imports, In Physical Terms, By Country, 2012–2023
30. Imports, In Value Terms, By Country, 2012–2023
31. Import Prices, By Country Of Origin, 2012–2023
32. Exports, In Physical Terms, 2012–2023
33. Exports, In Value Terms, 2012–2023
34. Exports, In Physical Terms, By Country, 2023
35. Exports, In Physical Terms, By Country, 2012–2023
36. Exports, In Value Terms, By Country, 2012–2023
37. Export Prices, By Country Of Destination, 2012–2023